LSV Asset Management trimmed its holdings in shares of Manning and Napier Inc (NYSE:MN) by 43.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 129,200 shares of the asset manager’s stock after selling 101,000 shares during the period. LSV Asset Management owned about 0.86% of Manning and Napier worth $452,000 at the end of the most recent reporting period.
Other hedge funds have also made changes to their positions in the company. BlueCrest Capital Management Ltd acquired a new position in shares of Manning and Napier during the fourth quarter worth $128,000. Kovack Advisors Inc. acquired a new position in shares of Manning and Napier during the fourth quarter worth $131,000. Spark Investment Management LLC lifted its position in shares of Manning and Napier by 176.8% during the fourth quarter. Spark Investment Management LLC now owns 114,600 shares of the asset manager’s stock worth $412,000 after purchasing an additional 73,200 shares in the last quarter. Yorktown Management & Research Co Inc acquired a new position in shares of Manning and Napier during the fourth quarter worth $468,000. Finally, Dimensional Fund Advisors LP lifted its position in shares of Manning and Napier by 5.4% during the third quarter. Dimensional Fund Advisors LP now owns 366,811 shares of the asset manager’s stock worth $1,449,000 after purchasing an additional 18,656 shares in the last quarter. 54.29% of the stock is currently owned by hedge funds and other institutional investors.
NYSE MN opened at $3.40 on Thursday. Manning and Napier Inc has a 52 week low of $2.95 and a 52 week high of $4.95. The firm has a market cap of $51.34 million, a PE ratio of 10.15 and a beta of 1.42.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 1st. Investors of record on Friday, July 13th will be paid a $0.08 dividend. The ex-dividend date is Thursday, July 12th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 9.41%. Manning and Napier’s dividend payout ratio (DPR) is presently 80.00%.
Separately, Zacks Investment Research cut shares of Manning and Napier from a “hold” rating to a “sell” rating in a research report on Saturday, February 10th.
Manning and Napier Profile
Manning & Napier, Inc is publicly owned investment manager. It provides its services to net worth individuals and institutions, including 401(k) plans, pension plans, taft-hartley plans, endowments and foundations. The firm manages separate client-focused equity and fixed income portfolios. It invests in the public equity and fixed income markets of the United States.
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